Euronext: Difference between revisions
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| image_caption = Euronext's [[registered office]] is located in the [[Euronext Amsterdam]] building, [[:nl:Beursplein (Amsterdam)|Beursplein]] 5, [[Amsterdam]]. | | image_caption = Euronext's [[registered office]] is located in the [[Euronext Amsterdam]] building, [[:nl:Beursplein (Amsterdam)|Beursplein]] 5, [[Amsterdam]]. | ||
| traded_as = {{EuronextParis|ENX|NL0006294274|XPAR}}<br />[[CAC | | traded_as = {{EuronextParis|ENX|NL0006294274|XPAR}}<br />[[CAC 40]] | ||
| ISIN = {{ISIN|sl=n|pl=y|NL0006294274}} | | ISIN = {{ISIN|sl=n|pl=y|NL0006294274}} | ||
| foundation = {{Start date and age|1285}} (as ''[[Bourse at Bruges|Huis ter Beurze]]'')<br />{{Start date and age|1602}} (as Amsterdam Stock Exchange)<br />{{Start date and age|1724}} (as Paris Bourse)<br />{{Start date and age|2000|09|22|df=y}} (present consortium)<ref name="foundation1">{{Cite report|url=https://books.google.com/books?id=J5zSdO4k6pIC&q=Euronext+September+22%2C+2000&pg=PP3|title=Kingdom of the Netherlands-Netherlands: Detailed Assessment of Standards and Codes|date=29 September 2004|publisher=International Monetary Fund|location=Washington, D.C.|page=136|id=IFM Country Report No 04/310|access-date=27 December 2013|series=Staff Country Reports|archive-date=11 January 2023|archive-url=https://web.archive.org/web/20230111194632/https://books.google.com/books?id=J5zSdO4k6pIC&q=Euronext+September+22%2C+2000&pg=PP3|url-status=live}}</ref><ref name="foundation2">{{Cite book|last1=Yutaka|first1=Kurihara|title=Global Information Technology and Competitive Financial Alliances|last2=Sadayoshi|first2=Takaya|last3=Nobuyoshi|first3=Yamori|publisher=Idea Group Inc. (IGI)|year=2006|isbn=9781591408833|page=137}}</ref><ref name="foundation3">{{Cite encyclopedia|year=2008|title=Handbook of Finance, Financial Markets and Instruments|encyclopedia=Handbook of Finance|publisher=John Wiley & Sons|url=https://books.google.com/books?id=7LOD1CmBD-cC&q=Euronext%20September%2022%2C%202000&pg=PA6|editor-last=Fabozzi|editor-first=Frank J.|volume=1|page=143|isbn=9780470391075|access-date=27 December 2013|archive-date=11 January 2023|archive-url=https://web.archive.org/web/20230111194633/https://books.google.com/books?id=7LOD1CmBD-cC&q=Euronext%20September%2022%2C%202000&pg=PA6|url-status=live}}</ref><ref name="foundation4">{{Cite web|last=Théodore|first=Jean-François|date=22 September 2000|title=Birth of Euronext: Speech from Jean-François Théodore, Chairman and Chief Executive Officer of Euronext|url=http://www.paris-europlace.net/dossiers001_fr.htm|access-date=27 December 2013|publisher=Paris Europlace|archive-date=12 March 2016|archive-url=https://web.archive.org/web/20160312102557/http://paris-europlace.net/dossiers001_fr.htm|url-status=dead}}</ref> | | foundation = {{Start date and age|1285}} (as ''[[Bourse at Bruges|Huis ter Beurze]]'')<br />{{Start date and age|1602}} (as Amsterdam Stock Exchange)<br />{{Start date and age|1724}} (as Paris Bourse)<br />{{Start date and age|2000|09|22|df=y}} (present consortium)<ref name="foundation1">{{Cite report|url=https://books.google.com/books?id=J5zSdO4k6pIC&q=Euronext+September+22%2C+2000&pg=PP3|title=Kingdom of the Netherlands-Netherlands: Detailed Assessment of Standards and Codes|date=29 September 2004|publisher=International Monetary Fund|location=Washington, D.C.|page=136|id=IFM Country Report No 04/310|access-date=27 December 2013|series=Staff Country Reports|archive-date=11 January 2023|archive-url=https://web.archive.org/web/20230111194632/https://books.google.com/books?id=J5zSdO4k6pIC&q=Euronext+September+22%2C+2000&pg=PP3|url-status=live}}</ref><ref name="foundation2">{{Cite book|last1=Yutaka|first1=Kurihara|title=Global Information Technology and Competitive Financial Alliances|last2=Sadayoshi|first2=Takaya|last3=Nobuyoshi|first3=Yamori|publisher=Idea Group Inc. (IGI)|year=2006|isbn=9781591408833|page=137}}</ref><ref name="foundation3">{{Cite encyclopedia|year=2008|title=Handbook of Finance, Financial Markets and Instruments|encyclopedia=Handbook of Finance|publisher=John Wiley & Sons|url=https://books.google.com/books?id=7LOD1CmBD-cC&q=Euronext%20September%2022%2C%202000&pg=PA6|editor-last=Fabozzi|editor-first=Frank J.|volume=1|page=143|isbn=9780470391075|access-date=27 December 2013|archive-date=11 January 2023|archive-url=https://web.archive.org/web/20230111194633/https://books.google.com/books?id=7LOD1CmBD-cC&q=Euronext%20September%2022%2C%202000&pg=PA6|url-status=live}}</ref><ref name="foundation4">{{Cite web|last=Théodore|first=Jean-François|date=22 September 2000|title=Birth of Euronext: Speech from Jean-François Théodore, Chairman and Chief Executive Officer of Euronext|url=http://www.paris-europlace.net/dossiers001_fr.htm|access-date=27 December 2013|publisher=Paris Europlace|archive-date=12 March 2016|archive-url=https://web.archive.org/web/20160312102557/http://paris-europlace.net/dossiers001_fr.htm|url-status=dead}}</ref> | ||
| key_people = [[: | | key_people = [[:en:Stéphane Boujnah|Stéphane Boujnah]]<ref>{{Cite news|date=10 September 2015|title=Euronext nominates Santander's Boujnah as new CEO|work=Financial Times|url=https://www.ft.com/content/776a1196-57e2-11e5-a28b-50226830d644?mhq5j=e3|access-date=7 July 2017|archive-date=3 February 2018|archive-url=https://web.archive.org/web/20180203235943/https://www.ft.com/content/776a1196-57e2-11e5-a28b-50226830d644?mhq5j=e3|url-status=live}}</ref> ([[Chief executive officer|CEO]] & [[chairman]] of the Managing Board) | ||
| revenue = 1, | | revenue = 1,627 million (2024)<ref>{{Cite web|url=https://www.euronext.com/sites/default/files/financial-event-doc/2025-04/EUR_URD2024_MEL_.pdf|title=Euronext Financial Report 2024}}</ref> | ||
| num_employees = 2455 (2024) | |||
| net_income = 620.684 million (2024) | |||
| location = [[Paris]], France<br>(operational headquarters)<br>[[Amsterdam]], Netherlands<br>(registered office) | | location = [[Paris]], France<br>(operational headquarters)<br>[[Amsterdam]], Netherlands<br>(registered office) | ||
| industry = [[Financial services]] | | industry = [[Financial services]] | ||
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}} | }} | ||
'''Euronext N.V.''' (short for '''European New Exchange Technology''')<ref>{{Cite web|last=Kraaijeveld|first=Kees|date=5 May 2000|title=iX, ieks of ai-iks?|url=https://www.volkskrant.nl/gs-be0cf5a6|access-date=2 August 2020|website=de Volkskrant}}</ref> is a European [[Exchange (organized market)|bourse]] that provides trading and post-trade services for a range of financial instruments. | '''Euronext N.V.''' (short for '''European New Exchange Technology''')<ref>{{Cite web|last=Kraaijeveld|first=Kees|date=5 May 2000|title=iX, ieks of ai-iks?|url=https://www.volkskrant.nl/gs-be0cf5a6|access-date=2 August 2020|website=de Volkskrant}}</ref> is a European [[Exchange (organized market)|bourse]] that provides trading and post-trade services for a range of financial instruments. It is [[registered office|registered]] in [[Amsterdam]] but its operational [[corporate headquarters|headquarters]] are located in [[Paris]].<ref>{{Cite news |title=Euronext va s'installer à la Défense en 2015 |url=http://www.lefigaro.fr/flash-eco/2014/11/25/97002-20141125FILWWW00245-euronext-va-s-installer-a-la-defense-en-2015.php |url-status=live |archive-url=https://web.archive.org/web/20230111194634/https://www.lefigaro.fr/flash-eco/2014/11/25/97002-20141125FILWWW00245-euronext-va-s-installer-a-la-defense-en-2015.php |archive-date=11 January 2023 |access-date=24 August 2019 |work=[[Le Figaro]]}}</ref> It operates major stock exchanges in eight countries: France ([[Euronext Paris]]), the Netherlands ([[Euronext Amsterdam]]), Belgium ([[Brussels Stock Exchange|Euronext Brussels]]), Ireland ([[Euronext Dublin]]), Portugal ([[Euronext Lisbon]]), Italy ([[Borsa Italiana]]), Greece ([[Athens Stock Exchange]]) and Norway ([[Oslo Stock Exchange|Euronext Oslo Børs]]). The present-day Euronext was spun off from the [[Intercontinental Exchange]] (ICE) in 2014,<ref>{{Cite web |last=Chad Bray |date=27 May 2014 |title=IntercontinentalExchange Set to Spin Off Euronext |url=https://dealbook.nytimes.com/2014/05/27/intercontinentalexchange-announces-plans-to-float-euronext/ |url-status=live |archive-url=https://web.archive.org/web/20220616224110/https://dealbook.nytimes.com/2014/05/27/intercontinentalexchange-announces-plans-to-float-euronext/ |archive-date=16 June 2022 |access-date=25 August 2014 |website=[[New York Times]]}}</ref> shortly after ICE's acquisition of NYSE Euronext the year before. | ||
Traded assets include regulated [[equities]], [[exchange-traded fund]]s (ETF), warrants and certificates, [[bond (finance)|bond]]s, [[derivative (finance)|derivative]]s, [[commodities]], [[foreign exchange trading|foreign exchange]] as well as [[Index (economics)|indices]]. | Traded assets include regulated [[equities]], [[exchange-traded fund]]s (ETF), warrants and certificates, [[bond (finance)|bond]]s, [[derivative (finance)|derivative]]s, [[commodities]], [[foreign exchange trading|foreign exchange]] as well as [[Index (economics)|indices]]. As of March 2025, Euronext operated nearly 1,800 listed [[issuer]]s with a [[market capitalization]] of approximately €6.3 trillion.<ref>{{Cite web |title=Equities - Stocks - Shares {{!}} Euronext Markets |url=https://live.euronext.com/en/products/equities |access-date=2025-10-24 |website=live.euronext.com}}</ref> | ||
Euronext is the largest center for debt and funds listings in the world, and provides technology and [[managed services]] to third parties. In addition to its main regulated market, it operates [[Euronext Growth]] and [[Euronext Access]], providing access to listing for [[small and medium-sized enterprises]]. [[Euronext Paris]] accounts for more than 80% of Euronext’s total market cap. | Euronext is the largest center for debt and funds listings in the world, and provides technology and [[managed services]] to third parties. In addition to its main regulated market, it operates [[Euronext Growth]] and [[Euronext Access]], providing access to listing for [[small and medium-sized enterprises]]. [[Euronext Paris]] accounts for more than 80% of Euronext’s total market cap. It also plays a key role in commodities trading, offering markets for power through '''Nord Pool''' and for fish through '''Fish Pool''', alongside other agricultural commodities such as milling wheat and rapeseed. | ||
Euronext | Post-trade services include [[Clearing (finance)|clearing]] performed by Euronext's multi-asset [[Clearing house (finance)|clearing house]], [[Euronext Clearing]], headquartered in [[Rome]], as well as [[central securities depository|custody and settlement]] performed by Euronext's [[central securities depository]] (CSD), [[Euronext Securities]]. | ||
Euronext traces its origins back to some of the world's oldest bourses, formed in the [[Low Countries]]' shifting trade centres, [[Bourse at Bruges|Bruges]], [[Stock Exchange, Antwerp|Antwerp]] and Amsterdam in 1285, 1485 and 1602, respectively, as well as to the foundation of the [[Euronext Paris|Paris Bourse]] in 1724. In its present form, Euronext was established in September 2000 through the merger of the bourses in Amsterdam, Brussels and Paris. The goal was to create a single, integrated, and liquid market for securities trading across Europe. Since its inception, Euronext has continued to expand, and now operates stock exchanges in several European countries, including France, the Netherlands, Belgium, Portugal, Ireland, and Norway. Its creation was followed by the introduction of the [[euro|single currency]] and harmonisation of financial markets. | |||
In August 2023, the company formed [[EuroCTP]] as a joint venture with 13 other bourses, in an effort to provide a [[National market system plan|consolidated tape]] for the [[European Union]], as part of the [[Capital Markets Union]] proposed by the [[European Commission]]. | |||
==History== | |||
===Background: Exchange companies that merged into Euronext=== | |||
{{Main|Euronext Amsterdam|Athens Stock Exchange|Brussels Stock Exchange|Euronext Paris|Euronext Lisbon|Euronext Dublin|Oslo Stock Exchange|Borsa Italiana}} | |||
{{See also|Exchange (organized market)#History}} | |||
<gallery class="center" mode=packed> | |||
File:Overzicht klokkentoren met uurwerk, aan de Beurspleinzijde de hoofdingang met bordestrap - Amsterdam - 20408819 - RCE.jpg|[[Beurs van Berlage]] in [[Amsterdam]], now an events venue | |||
File:Xrimatistirio.jpg|[[Athens Stock Exchange]] in [[Athens]] | |||
File:Front of Brussels Stock Exchange 2023 cropped.jpg|[[Bourse Palace]] in [[Brussels]], now an events venue | |||
File:Palais Brongniart Facade.jpg|[[Palais Brongniart]] in [[Paris]], now an events venue | |||
File:Irish Stock Exchange, Anglesea Street.JPG|Stock exchange building in [[Dublin]] | |||
File:Euronext Oslo.jpg|Stock exchange building in [[Oslo]] | |||
File:Palazzo mezzanotte Milan Stock Exchange.jpg|[[Palazzo Mezzanotte]] in [[Milan]] | |||
</gallery> | |||
===2000–2007: Founding merger and early acquisitions=== | |||
[[File:Original Euronext logo.svg|thumb|left|Logo used between 2000 and 2007]] | |||
In 1998, the [[London Stock Exchange]] and {{Lang|de|[[Deutsche Börse]]|italic=no}} announced their intention of forming an alliance to fend off competition from the United States, and take advantage from the European Union's (EU) [[euro|single currency]] and harmonisation of [[financial market]]s.<ref>{{Cite magazine|url=https://www.wired.com/1999/05/pan-european-bourse-in-the-works/|title=Pan-European Bourse in the Works|magazine=Wired|access-date=17 January 2022|archive-date=23 January 2022|archive-url=https://web.archive.org/web/20220123144139/https://www.wired.com/1999/05/pan-european-bourse-in-the-works/|url-status=live}}</ref> In April 1999 the stock exchanges in [[Euronext Paris|Paris]], [[SIX Swiss Exchange|Zurich]], [[Bolsa de Madrid|Madrid]], [[Brussels Stock Exchange|Brussels]], [[Euronext Amsterdam|Amsterdam]], and [[Italian Bourse|Milan]] signed a memorandum of understanding in Madrid, which formalised plans to include these bourses as well. | |||
Ultimately, only three decided to proceed, and on 22 September 2000 Euronext was formed following a merger of the [[Amsterdam Stock Exchange]],<ref name="NYSE Euronext">{{Cite web|title=Amsterdam Stock Exchange|url=https://www.nyx.com/fr/who-we-are/history/amsterdam|url-status=dead|archive-url=https://web.archive.org/web/20140407104827/https://www.nyx.com/fr/who-we-are/history/amsterdam|archive-date=7 April 2014|access-date=27 March 2014|website=NYSE Euronext}}</ref> [[Brussels Stock Exchange]], and [[Paris Bourse]].<ref name="foundation1" /><ref name="foundation2" /><ref name="foundation3" /><ref name="foundation4" /> | |||
In 2001, Euronext became a listed company itself after completing its initial public offering.<ref name="Grace Pownall">{{Citation|last1=Pownall|first1=Grace|last2=Maria Vulcheva|last3=Xue Wang|date=1 March 2013|title=Creation and Segmentation of the Euronext Stock Exchange and Listed Firms' Liquidity and Accounting Quality: Empirical Evidence|url=https://business.fiu.edu/soa/pdf/Euronext%20I_%20March_2013.docx|url-status=live|pages=7|archive-url=https://web.archive.org/web/20140407075928/https://business.fiu.edu/soa/pdf/Euronext%20I_%20March_2013.docx|archive-date=7 April 2014|access-date=4 April 2014}}</ref><ref>{{Cite news|date=4 May 2016|title=Euronext – FXCM|work=FXCM Insights|url=https://www.fxcm.com/insights/euronext/|access-date=15 June 2017|archive-date=20 December 2018|archive-url=https://web.archive.org/web/20181220033903/https://www.fxcm.com/insights/euronext/|url-status=live}}</ref> | |||
In December 2001, Euronext acquired the shares of the [[London International Financial Futures and Options Exchange]] (LIFFE), forming Euronext.LIFFE.<ref>{{Cite web |date=2008-03-25 |title=InterContinental Exchange Acquires Yellow Jacket Software to Expand its Electronic Trading of OTC Derivatives |url=https://www.wallstreetandtech.com/electronic-trading/intercontinental-exchange-acquires-yello/206905693 |access-date=2025-06-19 |website=Wall Street & Technology}}</ref> | |||
In 2002, the group merged with the Portuguese stock exchange Bolsa de Valores de Lisboa e Porto (BVLP), renamed [[Euronext Lisbon]].<ref name="foundation3" /> | |||
In 2003, Euronext cash products were integrated onto a single platform (NSC).<ref>{{Cite web|url=https://www.euronext.com/en/user/login?destination=%2Fen%2F20-years-euronext|title=Log in|website=Euronext|access-date=11 July 2021|archive-date=11 July 2021|archive-url=https://web.archive.org/web/20210711123701/https://www.euronext.com/en/user/login?destination=%2Fen%2F20-years-euronext|url-status=live}}</ref> | |||
In 2004, Euronext derivatives products were integrated onto ''LIFFE CONNECT''. | |||
In 2005, Euronext introduced [[Alternext]] as a market segment to help finance small and mid-class companies in the Eurozone. | |||
===2007–2014: Merger with the New York Stock Exchange and acquisition by Intercontinental Exchange=== | |||
{{Main|NYSE Euronext}} | |||
[[File:Logo of NYSE Euronext 2007-2012.svg|thumb|left|Logo of [[NYSE Euronext]] from 2007 to 2012, based on NYSE's previous logo]] | |||
[[File:NYSE Euronext 2012.svg|thumb|left|Logo used by NYSE Euronext from 2012 to 2014, which apart from "NYSE" was kept by the spun-off Euronext. Designed by Interbrand, the logo depicts a pixelated globe.<ref>{{Cite web|url=https://www.designweek.co.uk/issues/december-2011/interbrand-rebrands-nyse-euronext/|title=Interbrand rebrands NYSE Euronext|first=Angus|last=Montgomery|date=15 May 2012|access-date=28 September 2020|archive-date=28 September 2020|archive-url=https://web.archive.org/web/20200928215703/https://www.designweek.co.uk/issues/december-2011/interbrand-rebrands-nyse-euronext/|url-status=live}}</ref>]] | |||
Due to apparent moves by [[Nasdaq, Inc.|NASDAQ]] to acquire the [[London Stock Exchange]]<ref name="wsj_20061212">{{Cite news|last1=MacDonald|first1=A.|last2=Manuel, G.|date=12 December 2006|title=Nasdaq Formally Launches Bid for London Stock Exchange|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/SB116591445456147486|access-date=3 August 2017|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324091606/https://www.wsj.com/articles/SB116591445456147486|url-status=live}}</ref> or Euronext itself,<ref>{{Cite web|url=https://www.fxcm.com/uk/insights/euronext/|title=Euronext|website=FXCM UK|date=4 May 2016 |access-date=19 October 2020|archive-date=21 October 2020|archive-url=https://web.archive.org/web/20201021165552/https://www.fxcm.com/uk/insights/euronext/|url-status=live}}</ref> NYSE Group, owner of the [[New York Stock Exchange]] (NYSE), offered €8 billion (US$10.2b) in cash and shares for Euronext on 22 May 2006, outbidding a rival offer for the European Stock exchange operator from {{Lang|de|[[Deutsche Börse]]|italic=no}}, the German stock market.<ref>{{Cite news|date=21 May 2006|title=NYSE and Euronext 'set to merge'|work=BBC News|url=https://news.bbc.co.uk/2/hi/business/5002438.stm|access-date=22 May 2006|archive-date=24 January 2009|archive-url=https://web.archive.org/web/20090124031018/http://news.bbc.co.uk/1/hi/business/5002438.stm|url-status=live}}</ref> Contrary to statements that it would not raise its bid, on 23 May 2006, {{Lang|de|Deutsche Börse|italic=no}} unveiled a merger bid for Euronext, valuing the pan-European exchange at €8.6 billion (US$11b), €600 million over NYSE Group's initial bid.<ref>{{Cite news|date=23 May 2006|title=Deutsche Boerse outbids NYSE for Euronext merger|work=BBC News|url=https://news.bbc.co.uk/2/hi/business/5007230.stm|access-date=23 May 2006|archive-date=1 December 2020|archive-url=https://web.archive.org/web/20201201173236/http://news.bbc.co.uk/2/hi/business/5007230.stm|url-status=live}}</ref> Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response by [[Securities and Exchange Commission|SEC]] chief [[Christopher Cox]] (who was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007.<ref name="online.wsj.com">{{Cite news|last1=Lucchetti|first1=Aaron|last2=Macdonald|first2=Alistair|last3=Scannell|first3=Kara|date=2 June 2006|title=NYSE, Euronext Set Plan to Form A Markets Giant|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/SB114919826887369084|access-date=2 June 2006|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324085129/https://www.wsj.com/articles/SB114919826887369084|url-status=live}}</ref> | |||
{{Lang|de|Deutsche Börse|italic=no}} dropped out of the bidding for Euronext on 15 November 2006, removing the last major hurdle for the NYSE Euronext transaction. A run-up of NYSE Group's stock price in late 2006 made the offering far more attractive to Euronext's shareholders.<ref>{{Cite news|last1=Taylor|first1=Edward|last2=Lucchetti|first2=Aaron|last3=Macdonald|first3=Alistair|date=15 November 2006|title=Deutsche Börse Is Exiting Euronext Chase|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/SB116355794762023471|access-date=15 November 2006|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324085157/https://www.wsj.com/articles/SB116355794762023471|url-status=live}}</ref> | |||
On 19 December 2006, Euronext shareholders approved the transaction with 98.2% of the vote. Only 1.8% voted in favour of the {{Lang|de|Deutsche Börse|italic=no}} offer. [[Jean-François Théodore]], the [[chief executive officer]] of Euronext, stated that they expected the transaction to close within three or four months.<ref>{{Cite news|last1=Lucchetti|first1=Aaron|last2=Macdonald|first2=Alistair|date=19 December 2006|title=Euronext Shareholders Approve Acquisition by NYSE|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/SB116653086274154451|access-date=19 December 2006|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324085140/https://www.wsj.com/articles/SB116653086274154451|url-status=live}}</ref> | |||
Some of the regulatory agencies with jurisdiction over the merger had already given approval. NYSE Group shareholders gave their approval on 20 December 2006.<ref>{{Cite news|date=21 December 2006|title=Big Board Holders Back Euronext Deal|work=The New York Times|url=https://www.nytimes.com/2006/12/21/business/worldbusiness/21nyse.html?ref=worldbusiness|access-date=21 December 2006|archive-date=5 November 2012|archive-url=https://web.archive.org/web/20121105052929/http://www.nytimes.com/2006/12/21/business/worldbusiness/21nyse.html?ref=worldbusiness|url-status=live}}</ref> | |||
The merger was completed on 4 April 2007, forming [[NYSE Euronext]]. | |||
The new firm, [[NYSE Euronext]], was headquartered in New York City, with European operations and its trading platform run out of Paris. Then-NYSE [[Chief Executive Officer|CEO]] [[John Thain]], who was to head NYSE Euronext, intended to use the combination to form the world's first global stock market, with continuous trading of stocks and derivatives over a 21-hour time span. In addition, the two exchanges hoped to add [[Borsa Italiana]] (the Milan stock exchange) into the grouping. | |||
In 2008 and 2009 {{Lang|de|[[Deutsche Börse]]|italic=no}} made two unsuccessful attempts to merge with NYSE Euronext. Both attempts did not enter into advanced steps of merger.<ref>{{Cite web|last=Grant|first=Jeremy|date=6 December 2008|title=Deutsche Börse pitches merger with NYSE Euronext|url=https://www.ft.com/content/7981cada-c3d0-11dd-a4a5-000077b07658|archive-url=https://ghostarchive.org/archive/20221210/http://www.ft.com/cms/s/0/7981cada-c3d0-11dd-a4a5-000077b07658.html|archive-date=10 December 2022|url-access=subscription|url-status=live|access-date=9 December 2008|website=Financial Times|location=London}}</ref><ref>{{Cite news|last1=Bunge|first1=Jacob|last2=Launder|first2=William|last3=Lucchetti|first3=Aaron|date=10 February 2011|title=NYSE, Deutsche Börse Talk Tie-Up as Competition Intensifies|work=[[The Wall Street Journal]]|publisher=Lex Fenwick|location=Chicago|url=https://www.wsj.com/news/articles/SB10001424052748704858404576134153000503870|access-date=27 December 2013|issn=0099-9660|archive-date=3 February 2018|archive-url=https://web.archive.org/web/20180203181451/https://www.wsj.com/news/articles/SB10001424052748704858404576134153000503870|url-status=live}}</ref> In 2011, {{Lang|de|Deutsche Börse|italic=no}} and NYSE Euronext confirmed that they were in advanced merger talks. Such a merger would create the largest exchange in history.<ref>{{Cite news|last=Waller|first=Martin|date=8 December 2008|title=Talks to create world's biggest exchange|work=Times Online|location=London|url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5303390.ece|access-date=9 December 2008|archive-date=12 June 2011|archive-url=https://web.archive.org/web/20110612084515/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5303390.ece|url-status=dead}}</ref> The deal was approved by shareholders of NYSE Euronext on 7 July 2011,<ref name="online.wsj.com" /> and {{Lang|de|Deutsche Börse|italic=no}} on 15 July 2011<ref>{{Cite news|last=Bunge|first=Jacob|date=15 July 2011|title=Deutsche Börse Wins 82% Backing for NYSE Deal|work=[[The Wall Street Journal]]|publisher=Lex Fenwick|location=Chicago|url=https://www.wsj.com/news/articles/SB10001424052702304521304576448133230979762|access-date=27 December 2013|archive-date=13 March 2016|archive-url=https://web.archive.org/web/20160313140355/http://www.wsj.com/news/articles/SB10001424052702304521304576448133230979762|url-status=live}}</ref> and won the antitrust approved by the US regulators on 22 December 2011.<ref>{{Cite news|last=Bartz|first=Diane|date=11 December 2011|title=Deutsche Boerse, NYSE deal wins U.S. approval|work=Reuters|location=Washington D.C.|url=https://www.reuters.com/article/us-nyse-deutscheboerse-idUSTRE7BL1CE20111222|access-date=27 December 2013|archive-date=22 June 2021|archive-url=https://web.archive.org/web/20210622004751/https://www.reuters.com/article/us-nyse-deutscheboerse-idUSTRE7BL1CE20111222|url-status=live}}</ref> On 1 February 2012, the deal was blocked by European Commission on the grounds that the new company would have resulted in a quasi-monopoly in the area of European financial derivatives traded globally on exchanges.<ref>{{Cite press release|title=Mergers: Commission blocks proposed merger between Deutsche Börse and NYSE Euronext|date=1 February 2012|publisher=European Commission|url=http://europa.eu/rapid/press-release_IP-12-94_en.htm?locale=en|access-date=27 December 2013|archive-date=28 December 2013|archive-url=https://web.archive.org/web/20131228112139/http://europa.eu/rapid/press-release_IP-12-94_en.htm?locale=en|url-status=live}}</ref><ref>{{Cite news|date=1 February 2012|title=NYSE Euronext merger with Deutsche Boerse blocked by EU|work=BBC News|url=https://www.bbc.co.uk/news/business-16838793|access-date=27 December 2013|archive-date=25 September 2015|archive-url=https://web.archive.org/web/20150925141750/http://www.bbc.co.uk/news/business-16838793|url-status=live}}</ref> {{Lang|de|Deutsche Börse|italic=no}} unsuccessfully appealed this decision.<ref>{{Cite web|date=20 March 2012|title=Deutsche Borse To Appeal EU Veto Of NYSE Euronext|url=http://www.ibtimes.com/deutsche-borse-appeal-eu-veto-nyse-euronext-427538|access-date=15 October 2014|website=International Business Times|archive-date=7 November 2014|archive-url=https://web.archive.org/web/20141107115633/http://www.ibtimes.com/deutsche-borse-appeal-eu-veto-nyse-euronext-427538|url-status=live}}</ref><ref name="Fairless2015">{{Cite news|last=Fairless|first=Tom|date=9 March 2015|title=EU Rejects Deutsche Börse Appeal Against Blocked Merger With NYSE-Euronext|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/eu-rejects-deutsche-borse-appeal-against-blocked-merger-with-nyse-euronext-1425893554|access-date=6 January 2016|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324085302/https://www.wsj.com/articles/eu-rejects-deutsche-borse-appeal-against-blocked-merger-with-nyse-euronext-1425893554|url-status=live}}</ref> | |||
In 2012, Euronext announced the creation of Euronext London to offer listing facilities in the UK. As such, Euronext received in June 2014 Recognized Investment Exchange (RIE) status from Britain's Financial Conduct Authority.<ref>{{Cite web|date=4 June 2014|title=Euronext UK secures RIE status|url=http://www.ftseglobalmarkets.com/news/euronext-uk-secures-rie-status.html|access-date=15 October 2014|website=FTSE Global Markets|archive-date=31 March 2020|archive-url=https://web.archive.org/web/20200331175015/http://www.ftseglobalmarkets.com/news/euronext-uk-secures-rie-status.html|url-status=dead}}</ref> | |||
On 20 December 2012, the boards of directors of both [[Intercontinental Exchange]] (ICE) and the NYSE Euronext approved an $8 billion acquisition of NYSE Euronext. Under the terms shareholders of NYSE would receive either $33.12 in cash for each share or .2581 IntercontinentalExchange Inc. shares, or a combination of $11.27 in cash per share plus .1703 shares of stock.<ref>{{Cite news|date=20 December 2012|title=IntercontinentalExchange to buy NYSE for $8.2B|publisher=[[Associated Press]]|url=https://www.cbsnews.com/news/intercontinentalexchange-to-buy-nyse-for-82b/|access-date=25 August 2014|via=[[CBS News]]|archive-date=4 November 2013|archive-url=https://web.archive.org/web/20131104062151/http://www.cbsnews.com/8301-505123_162-57560197/intercontinentalexchange-to-buy-nyse-for-$8.2b/|url-status=live}}</ref> The acquisition is subject to regulator approval, though since the operations of ICE and NYSE have little in common—ICE is largely devoted to trading commodities, as opposed to NYSE's business of trading stocks and securities—the deal is not expected to be blocked.<ref name="nytimes">{{Cite news|date=20 December 2012|title=Upstart Market Operator Clinches $8.2 Billion Deal for N.Y.S.E.|work=The New York Times|url=https://dealbook.nytimes.com/2012/12/20/upstart-market-operator-clinches-8-2-billion-deal-for-n-y-s-e/?hp|access-date=20 December 2012|archive-date=24 December 2012|archive-url=https://web.archive.org/web/20121224021905/http://dealbook.nytimes.com/2012/12/20/upstart-market-operator-clinches-8-2-billion-deal-for-n-y-s-e/?hp|url-status=live}}</ref> ICE said that after the deal closed it would sell the Euronext portion of the company, including stock exchanges in Amsterdam, Brussels, Lisbon and Paris.<ref>{{Cite news|date=20 December 2012|title=NYSE agrees to be sold to rival ICE for $8bn|publisher=BBC News Online|url=https://www.bbc.co.uk/news/business-20802445|access-date=20 December 2012|archive-date=20 December 2012|archive-url=https://web.archive.org/web/20121220184507/http://www.bbc.co.uk/news/business-20802445|url-status=live}}</ref> The deal went through and Euronext is a sister division to NYSE and part of ICE. ICE CEO [[Jeffrey Sprecher]] would continue in that position at the combined company, while NYSE CEO Duncan Niederauer would serve as president.<ref name="nytimes" /> The future of the New York Stock Exchange's historic trading floor under ICE has not been announced. ICE closed the high profile and historic trading floors of its other earlier acquisitions, the [[International Petroleum Exchange]] and the [[New York Board of Trade]] in New York.<ref name="nytimes1">{{Cite news|last=Popper|first=Nathaniel|date=19 January 2013|title=Jeffrey Sprecher's Improbable Path to Buying the N.Y.S.E|work=The New York Times|url=https://www.nytimes.com/2013/01/20/business/jeffrey-sprechers-improbable-path-to-buying-the-nyse.html?partner=rss&emc=rss&pagewanted=print|access-date=5 October 2020|archive-date=8 October 2020|archive-url=https://web.archive.org/web/20201008031757/https://www.nytimes.com/2013/01/20/business/jeffrey-sprechers-improbable-path-to-buying-the-nyse.html?partner=rss&emc=rss&pagewanted=print|url-status=live}}</ref> | |||
In May 2013, Euronext established Enternext as a subsidiary to help small and medium-size enterprises (SMEs) listed on Euronext outline and apply a strategy most suited to support their growth.<ref name="Europeanequities.nyx">{{Cite web|title=Enternext|url=https://europeanequities.nyx.com/en/enternext/a-propos-d-enternext/faq|url-status=dead|archive-url=https://web.archive.org/web/20140407101951/https://europeanequities.nyx.com/en/enternext/a-propos-d-enternext/faq|archive-date=7 April 2014|access-date=27 March 2014|website=Europeanequities.nyx}}</ref><ref>{{Cite news|date=24 May 2014|title=EnterNext, la Bourse des PME, devra convaincre|url=http://www.lemonde.fr/argent/article/2013/05/24/enternext-la-bourse-des-pme-devra-convaincre_3416770_1657007.html|access-date=15 October 2014|newspaper=Le Monde.fr|archive-date=28 October 2014|archive-url=https://web.archive.org/web/20141028215520/http://www.lemonde.fr/argent/article/2013/05/24/enternext-la-bourse-des-pme-devra-convaincre_3416770_1657007.html|url-status=live}}</ref> | |||
The ICE's deal was approved by the shareholders of NYSE Euronext and Intercontinental Exchange on 3 June 2013.<ref>{{Cite news|last=Pisani|first=Bob|date=3 June 2013|title=NYSE Euronext Shareholders Approve ICE Merger|work=CNBC|url=https://www.cnbc.com/2013/06/03/nyse-euronext-shareholders-approve-ice-merger.html|access-date=27 December 2013|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324090642/https://www.cnbc.com/id/100784899|url-status=live}}</ref><ref>{{Cite press release|title=NYSE Euronext Shareholders Approve Acquisition by IntercontinentalExchange|date=3 June 2013|publisher=NYSE Euronext|location=New York|url=https://www.nyse.com/press/1370254756197.html|access-date=27 December 2013|archive-url=https://web.archive.org/web/20131228071809/http://www.nyse.com/press/1370254756197.html|archive-date=28 December 2013|url-status=dead}}</ref><ref>{{Cite press release|title=IntercontinentalExchange Stockholders Approve Acquisition of NYSE Euronext|date=3 June 2013|publisher=ICE Intercontinental Exchange|location=Atlanta|url=http://ir.theice.com/investors-and-media/press/press-releases/press-release-details/2013/IntercontinentalExchange-Stockholders-Approve-Acquisition-of-NYSE-Euronext/default.aspx|access-date=27 December 2013|archive-date=28 December 2013|archive-url=https://web.archive.org/web/20131228082517/http://ir.theice.com/investors-and-media/press/press-releases/press-release-details/2013/IntercontinentalExchange-Stockholders-Approve-Acquisition-of-NYSE-Euronext/default.aspx|url-status=dead}}</ref> | |||
The European Commission approved the acquisition on 24 June 2013<ref>{{Cite press release|title=Mergers: Commission approves acquisition of NYSE Euronext by InterContinental Exchange|date=24 June 2013|publisher=European Commission|location=Brussels|url=http://europa.eu/rapid/press-release_IP-13-597_en.htm|access-date=27 December 2013|archive-date=10 July 2019|archive-url=https://web.archive.org/web/20190710101836/http://europa.eu/rapid/press-release_IP-13-597_en.htm|url-status=live}}</ref> | |||
and on 15 August 2013 the US regulator, SEC, granted approval of the acquisition.<ref>{{Cite press release|title=Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; NYSE Arca, Inc.; Order Granting Approval of Proposed Rule Change Relating to a Corporate Transaction in which NYSE Euronext Will Become a {{Sic|hide=y|Wholly|-}}Owned Subsidiary of IntercontinentalExchange Group, Inc|date=15 August 2013|publisher=Securities and Exchange Commission (SEC)|url=https://www.sec.gov/rules/sro/nyse/2013/34-70210.pdf|access-date=27 December 2013|archive-date=8 April 2021|archive-url=https://web.archive.org/web/20210408214521/https://www.sec.gov/rules/sro/nyse/2013/34-70210.pdf|url-status=live}}</ref><ref>{{Cite news|last=Bunge|first=Jacob|date=16 August 2013|title=SEC Approves ICE-NYSE Deal|work=[[The Wall Street Journal]]|publisher=Lex Fenwick|location=Chicago|url=https://www.wsj.com/news/articles/SB10001424127887323639704579016521606693810|access-date=27 December 2013|archive-date=13 March 2016|archive-url=https://web.archive.org/web/20160313215954/http://www.wsj.com/news/articles/SB10001424127887323639704579016521606693810|url-status=live}}</ref><ref>{{Cite news|last1=Lynch|first1=Sarah N.|last2=McCrank|first2=John|date=16 August 2013|title=SEC approves ICE's planned takeover of NYSE|work=Reuters|editor-last=McCormick|editor-first=Gerald E.|url=https://www.reuters.com/article/us-ice-nyse-sec-idUSBRE97F0KU20130816|access-date=27 December 2013|editor2-last=Wallace|editor2-first=John|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324085404/https://www.reuters.com/article/us-ice-nyse-sec-idUSBRE97F0KU20130816|url-status=live}}</ref> | |||
European regulators and ministries of Finance of the participating countries approved the deal and on 13 November 2013 the acquisition was completed.<ref name="ice1">{{Cite press release|title=IntercontinentalExchange Completes Acquisition of NYSE Euronext|date=13 November 2013|publisher=ICE Intercontinental Exchange|url=http://ir.theice.com/investors-and-media/press/press-releases/press-release-details/2013/IntercontinentalExchange-Completes-Acquisition-of-NYSE-Euronext/default.aspx|access-date=27 December 2013|archive-date=28 December 2013|archive-url=https://web.archive.org/web/20131228082700/http://ir.theice.com/investors-and-media/press/press-releases/press-release-details/2013/IntercontinentalExchange-Completes-Acquisition-of-NYSE-Euronext/default.aspx|url-status=dead}}</ref><ref name="ice2">{{Cite news|date=16 November 2013|title=ICE buys NYSE-Euronext. The end of the street|url=https://www.economist.com/news/finance-and-economics/21589913-improbable-takeover-highlights-uncertain-future-share-trading-end|newspaper=The Economist|location=New York|publisher=London, The Economist Newspaper Ltd.|volume=2013|issue=16 November|issn=0013-0613|access-date=27 December 2013|archive-date=23 December 2013|archive-url=https://web.archive.org/web/20131223050022/http://www.economist.com/news/finance-and-economics/21589913-improbable-takeover-highlights-uncertain-future-share-trading-end|url-status=live}}</ref> | |||
===2014–present: Spin-off from ICE and subsequent development=== | |||
{{thumb|width=450|content={{Chart|definition=Euronext shareholders April 2024.chart|data=Euronext shareholders April 2024.tab|Width=100}} | |||
|caption = The composition of the Reference Shareholders as of 30 April 2024 is as follows:<ref>{{Cite web|url=https://www.euronext.com/en/investor-relations/capital-and-shareholding|title=Capital & Shareholding | Euronext N.V.|website=www.euronext.com}}</ref> | |||
* Dutch [[ABN AMRO]] (0.52%) | |||
* French [[Caisse des dépôts et consignations|Deposits and Consignments Fund]] (8.04%) | |||
* Italian [[CDP Equity]] (8.04%) | |||
* Belgium-based [[Euroclear Group]] (5.63%) | |||
* Italian [[Intesa Sanpaolo]] (1.54%) | |||
* Belgian [[:fr:Société fédérale de participations et d'investissement|Federal Holding and Investment Company]] (5.31%) | |||
}} | |||
Part of ICE's deal to acquire NYSE Euronext was a spin-off for Euronext, which was considered a positive element for European stakeholders.<ref name="ice1" /> After a complex series of operations, this occurred on 20 June 2014, through an [[initial public offering]] (IPO).<ref>{{Cite news|date=20 June 2014|title=Euronext Detaches From ICE Through $1.2 Billion IPO|publisher=Bloomberg|url=https://www.bloomberg.com/news/2014-06-19/ice-may-price-euronext-near-lower-end-in-1-1-billion-ipo.html|access-date=6 March 2017|archive-date=21 October 2014|archive-url=https://web.archive.org/web/20141021200510/http://www.bloomberg.com/news/2014-06-19/ice-may-price-euronext-near-lower-end-in-1-1-billion-ipo.html|url-status=live}}</ref> The former [[London International Financial Futures and Options Exchange|Euronext.LIFFE]] was retained by ICE and renamed ''ICE Futures Europe''. In order to stabilise Euronext, a consortium of eleven investors decided to invest in the company as "reference shareholders". These investors owned 33.36% of Euronext's capital and have a 3 years lockup period: [[Euroclear]], [[BNP Paribas]], [[BNP Paribas Fortis]], [[Société Générale]], [[Caisse des dépôts et consignations|Caisse des Dépôts]], [[Bpifrance|BPI France]], [[ABN AMRO|ABN Amro]], ASR, [[Banco Espírito Santo]], [[Banco BPI]] and Belgian holding public company {{interlanguage link|Belgian Federal Holding and Investment Company|fr|Société Fédérale de Participations et d'Investissement}} (SFPI/FPIM).<ref>{{Cite web|date=27 May 2014|title=ICE to sell third of Euronext to institutions in pan-European IPO|url=http://www.ft.com/intl/cms/s/0/55cc0702-e573-11e3-8b90-00144feabdc0.html?siteedition=intl#axzz3GDlcZQje|access-date=15 October 2014|website=Financial Times|archive-date=11 January 2023|archive-url=https://web.archive.org/web/20230111194636/https://www.ft.com/content/55cc0702-e573-11e3-8b90-00144feabdc0?siteedition=intl#axzz3GDlcZQje|url-status=live}}</ref> They have 3 board seats. | |||
In June 2014, EnterNext launched two initiatives to boost SME equity research and support the technology sector. EnterNext partnered with Morningstar to increase equity research focusing on mid-size companies, especially in the telecommunications, media and technology (TMT) sector. | |||
On 22 September 2014, Euronext announced a partnership with [[Degiro|DEGIRO]]<ref>{{Cite web|date=22 September 2014|title=Euronext to Partner with Degiro on Dutch Retail Investor Services|url=https://www.euronext.com/en/news/euronext-partner-degiro-dutch-retail-investor-services|access-date=1 April 2016|archive-date=11 November 2014|archive-url=https://web.archive.org/web/20141111155617/https://www.euronext.com/en/news/euronext-partner-degiro-dutch-retail-investor-services|url-status=live}}</ref> regarding the distribution of retail services of Euronext. Upon publishing the third quarter results for 2014, the partnership was seen as a plan for Euronext to compete more effectively on the Dutch retail segment.<ref>{{Cite news|date=6 November 2014|title=Euronext Publishes Third Quarter 2014 Results|work=Reuters|url=https://www.reuters.com/article/euronext-idUSnBw056966a+100+BSW20141106|url-status=dead|archive-url=https://web.archive.org/web/20160412073649/http://www.reuters.com/article/euronext-idUSnBw056966a+100+BSW20141106|archive-date=12 April 2016}}</ref> | |||
In May 2017, Alternext was renamed to Euronext Growth.<ref>{{Cite web|title=Euronext modernises its markets to support growth of european companies {{!}} Euronext|url=https://www.euronext.com/en/news/euronext-modernises-markets-support-growth-european-companies|access-date=18 December 2018|website=www.euronext.com|archive-date=19 December 2018|archive-url=https://web.archive.org/web/20181219002342/https://www.euronext.com/en/news/euronext-modernises-markets-support-growth-european-companies|url-status=live}}</ref> | |||
On 14 August 2017, Euronext announced the completion of its acquisition of FastMatch, a currency trading platform.<ref>{{Cite web|url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-closes-acquisition-fastmatch|title=Euronext closes acquisition of FastMatch|website=Euronext|access-date=28 September 2020|archive-date=18 June 2021|archive-url=https://web.archive.org/web/20210618173418/https://www.euronext.com/en/about/media/euronext-press-releases/euronext-closes-acquisition-fastmatch|url-status=live}}</ref> | |||
On 27 March 2018, Euronext announced the completion of its acquisition of the Irish Stock Exchange,<ref>{{Cite web|url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-completes-acquisition-irish-stock-exchange|title=Euronext completes the acquisition of the Irish Stock Exchange|website=Euronext|access-date=28 September 2020|archive-date=23 January 2021|archive-url=https://web.archive.org/web/20210123115731/https://www.euronext.com/en/about/media/euronext-press-releases/euronext-completes-acquisition-irish-stock-exchange|url-status=live}}</ref> rebranded as Euronext Dublin, to expand its reach into the debt and funds markets. | |||
On 18 June 2019, Euronext announced the completion of its acquisition of the [[Oslo Stock Exchange]].<ref>https://www.euronext.com/fr/oslo-bors-vps-joins-euronext {{dead link|date=August 2021}}</ref> | |||
On 5 December 2019, Euronext announced that it would acquire 66% of the European [[Electric power|power]] [[List of commodities exchanges|exchange]] [[Nord Pool]].<ref name="ReferenceB">{{Cite web|url=https://www.euronext.com/en/investor-relations/financial-information/regulated-information-and-investor-news/euronext-acquire-0|title=Euronext to acquire control of Nord Pool, a leading physical power market in Europe, reinforcing Oslo as Euronext's hub in the Nordics|website=Euronext|access-date=21 September 2020|archive-date=24 September 2020|archive-url=https://web.archive.org/web/20200924051318/https://www.euronext.com/en/investor-relations/financial-information/regulated-information-and-investor-news/euronext-acquire-0|url-status=live}}</ref><ref name="nordpoolgroup.com">{{Cite web|url=https://www.nordpoolgroup.com/message-center-container/newsroom/exchange-message-list/2019/q4/nord-pool-welcomes-new-owner/|title=Nord Pool welcomes new owner|website=www.nordpoolgroup.com|access-date=21 September 2020|archive-date=29 September 2020|archive-url=https://web.archive.org/web/20200929203105/https://www.nordpoolgroup.com/message-center-container/newsroom/exchange-message-list/2019/q4/nord-pool-welcomes-new-owner/|url-status=dead}}</ref> The acquisition was completed on 15 January 2020.<ref>{{Cite web|url=https://www.nordpoolgroup.com/message-center-container/newsroom/exchange-message-list/2020/q1/euronext-completes-the-acquisition-of-nord-pool/|title=Euronext completes acquisition of Nord Pool|website=www.nordpoolgroup.com|access-date=21 September 2020|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324090702/https://www.nordpoolgroup.com/message-center-container/newsroom/exchange-message-list/2020/q1/euronext-completes-the-acquisition-of-nord-pool/|url-status=dead}}</ref> | |||
On 23 April 2020, Euronext announced that it would acquire ca. 70% of the Danish Central Securities Depository, [[:da:VP Securities|VP Securities]].<ref>{{Cite web|url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-strengthens-its-post-trade-business-acquisition-vp|title=Euronext strengthens its post-trade business with the acquisition of VP Securities, the Danish Central Securities Depository|website=Euronext|access-date=21 September 2020|archive-date=31 October 2020|archive-url=https://web.archive.org/web/20201031133429/https://www.euronext.com/en/about/media/euronext-press-releases/euronext-strengthens-its-post-trade-business-acquisition-vp|url-status=live}}</ref> The acquisition was completed on 4 August 2020.<ref>{{Cite web|url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-completes-acquisition-vp-securities|title=Euronext Completes the Acquisition of VP Securities|website=Euronext|access-date=21 September 2020|archive-date=22 September 2020|archive-url=https://web.archive.org/web/20200922061441/https://www.euronext.com/en/about/media/euronext-press-releases/euronext-completes-acquisition-vp-securities|url-status=live}}</ref> | |||
On 18 September 2020, as part of regulatory remedies to see through its $27 billion purchase of data provider [[Refinitiv]], the [[London Stock Exchange Group]] (LSEG) entered into exclusive talks to sell the [[Italian Bourse]] (formally 100% of ''London Stock Exchange Group Holdings Italia S.p.A.''), situated in [[Milan]], to Euronext.<ref>{{Cite news|url=https://www.reuters.com/article/uk-lse-borsa-italiana-m-a-idUKKBN26T1IG|title=LSE expected to approve Borsa sale to Euronext on Thursday – sources|newspaper=Reuters|date=8 October 2020|via=www.reuters.com|access-date=11 July 2021|archive-date=24 March 2021|archive-url=https://web.archive.org/web/20210324085516/https://www.reuters.com/article/uk-lse-borsa-italiana-m-a-idUKKBN26T1IG|url-status=live}}</ref><ref name="ReferenceA">{{cite web|url=https://www.businessinsider.com/lse-engages-euronext-in-exclusive-borsa-italiana-talks-2020-9?r=US&IR=T|title=LSE engages Euronext in exclusive Borsa Italiana talks|first=Huw|last=Jones|agency=Reuters|date=18 September 2020|website=www.businessinsider.com|access-date=20 August 2021|archive-date=20 August 2021|archive-url=https://web.archive.org/web/20210820223833/https://www.businessinsider.com/lse-engages-euronext-in-exclusive-borsa-italiana-talks-2020-9?r=US&IR=T|url-status=live}}</ref> As part of the deal, CDP Equity, 100% owned by [[Cassa Depositi e Prestiti]], and [[Intesa Sanpaolo]] would become Euronext reference shareholders.<ref>{{Cite web|url=https://www.euronext.com/fr/node/1673355|title=Euronext and CDP Equity confirm exclusive talks with LSEG to acquire Borsa Italiana|website=Euronext|access-date=28 September 2020|archive-date=18 June 2021|archive-url=https://web.archive.org/web/20210618185237/https://www.euronext.com/fr/node/1673355|url-status=live}}</ref> | |||
In April 2021, Euronext completed the acquisition of the Borsa Italiana Group for €4.4 billion, enhancing its leadership in the European financial markets. This acquisition integrated the Milan Stock Exchange (Borsa Italiana) and its subsidiary MTS, a leader in fixed income markets, into Euronext. As of 2024, Euronext has further consolidated its market position through technological advancements, partnerships, and sustainability initiatives. | |||
On 23 August 2023, Euronext formed [[EuroCTP]] as a joint venture with 13 other bourses, in an effort to provide a [[National market system plan|consolidated tape]] for the [[European Union]], as part of the [[Capital Markets Union]] proposed by the [[European Commission]]. | |||
In November 2024, Euronext announced a new three-year strategic plan titled "Innovate for Growth 2027", aimed at accelerating revenue growth through innovation and business diversification. The plan focuses on three main priorities: | |||
# Growth in non-volume-related activities: expansion of post-trade services, data solutions, and technology services, which currently account for 60% of total revenues. | |||
# Expansion in fixed income, currencies, and commodities (FICC) markets: enhancing trading and clearing capabilities, with a particular focus on the energy market through Nord Pool. | |||
# Leadership in equity trading: strengthening Euronext's dominant position in equity markets and becoming the leading ETF market in Europe. | |||
The | The strategic plan reaffirms Euronext's commitment to sustainability and ESG by setting a Net Zero target for 2027. It also states a target of an annual revenue and income growth of over 5%, with capital expenditure (CAPEX) estimated between 4% and 6% of total revenues. In addition, Euronext announced a share buyback program of up to €300 million, set to be completed within a maximum of 12 months starting in November 2024.<ref>{{Cite web |title=Euronext announces its new strategic plan "Innovate for Growth 2027" |url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-announces-its-new-strategic-plan-innovate-for-growth |website=euronext.com}}</ref> | ||
On | On 1 July 2025, Euronext announced that it submitted a takeover offer in order to acquire [[Athens Stock Exchange]].<ref>{{Cite web |last=Newsroom |date=2025-07-01 |title=Euronext submits offer for full takeover of Athens Stock Exchange {{!}} eKathimerini.com |url=https://www.ekathimerini.com/economy/1274008/euronext-eyes-full-takeover-of-athens-stock-exchange/ |access-date=2025-07-30 |website=www.ekathimerini.com |language=English}}</ref> Discussions focused on a potential all-share deal valued at approximately $470 million.<ref>{{Cite news |date=2025-07-01 |title=Euronext in talks to buy Athens Stock Exchange for $470 million |url=https://www.reuters.com/en/euronext-talks-acquire-athens-stock-exchange-2025-07-01/ |access-date=2025-07-30 |work=Reuters |language=en}}</ref> On 6 October 2025, Euronext launched a voluntary exchange offer for all ATHEX shares<ref>{{Cite web |date=2025-10-06 |title=Euronext announces the launch of the voluntary exchange offer for all ATHEX shares |url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-announces-launch-voluntary-exchange-offer-for-all/ |access-date=2025-10-08 |work=Euronext |language=en}}</ref> and announced on 19 November 2025 that the offer was successful, with Euronext obtaining a controlling stake of 74,3% of ATHEX, thus resulting in the acquisition of Athens Stock Exchange by Euronext.<ref>{{Cite web |date=19 November 2025 |title=Euronext boucle le rachat de la Bourse d'Athènes|url=https://www.lesechos.fr/finance-marches/marches-financiers/euronext-boucle-le-rachat-de-la-bourse-dathenes-2199708 |access-date=2025-10-08 |work=Les Echos |language=fr}}</ref> | ||
==Operations== | ==Operations== | ||
| Line 57: | Line 155: | ||
{{location map+|Europe|float=right| AlternativeMap =Euronext EU laea location map.svg|width=250|caption= Euronext's local listing venues|places= | {{location map+|Europe|float=right| AlternativeMap =Euronext EU laea location map.svg|width=250|caption= Euronext's local listing venues|places= | ||
{{location map~|Europe|lat=52.369|long= 4.901 |label=[[Euronext Amsterdam|Amsterdam]]|position=right}} | {{location map~|Europe|lat=52.369|long= 4.901 |label=[[Euronext Amsterdam|Amsterdam]]|position=right}} | ||
{{location map~|Europe|lat=37.984167|long= 23.728056 |label=[[Athens Stock Exchange|Athens]]|position=right}} | |||
{{location map~|Europe|lat=50.848056|long= 4.350278|label=[[Euronext Brussels|Brussels]]|position=left}} | {{location map~|Europe|lat=50.848056|long= 4.350278|label=[[Euronext Brussels|Brussels]]|position=left}} | ||
{{location map~|Europe|lat=48.868728 |long=2.327169|label=[[Euronext Paris|Paris]]|position=left}} | {{location map~|Europe|lat=48.868728 |long=2.327169|label=[[Euronext Paris|Paris]]|position=left}} | ||
| Line 100: | Line 199: | ||
! colspan="2" style="text-align:right"| Amsterdam | ! colspan="2" style="text-align:right"| Amsterdam | ||
| {{ya}} XAMS | | {{ya}} XAMS | ||
| {{na}} | |||
| {{na}} | |||
|- | |||
! colspan="2" style="text-align:right"| Athens | |||
| {{ya}} ? | |||
| {{na}} | | {{na}} | ||
| {{na}} | | {{na}} | ||
| Line 149: | Line 253: | ||
|- | |- | ||
| {{Flagicon|Netherlands}} [[AEX index|AEX]]|| AEX|| EUR | | {{Flagicon|Netherlands}} [[AEX index|AEX]]|| AEX|| EUR | ||
|- | |||
| {{Flagicon|Greece}} [[Athens_Stock_Exchange#Composite_Index|GD]]|| GD || EUR | |||
|- | |- | ||
| {{Flagicon|Belgium}} [[BEL 20]]|| BEL20|| EUR | | {{Flagicon|Belgium}} [[BEL 20]]|| BEL20|| EUR | ||
| Line 167: | Line 273: | ||
====Commodities==== | ====Commodities==== | ||
Euronext offers trading in a number of commodities | Euronext offers trading in a number of physical commodities such as Electric power (''[[Nord Pool]]),'' salmon futures ''([[Fish Pool]]),'' milling wheat, rapeseed, corn, durum wheat, and wood pellets. | ||
====Derivatives==== | ====Derivatives==== | ||
| Line 202: | Line 301: | ||
===Corporate services=== | ===Corporate services=== | ||
{{Main|Euronext Corporate Services}} | {{Main|Euronext Corporate Services}} | ||
Euronext Corporate Services (ECS) is a wholly | Euronext Corporate Services (ECS) is a wholly owned subsidiary of Euronext. Founded in 2016, ECS provides solutions and services to more than 4,000 organisations, ranging from corporates to the public sector. | ||
It has acquired a number of companies, including Company Webcast (webcasting){{cn|date=December 2023}}, iBabs (board portal),<ref name="ibabs.com">{{Cite web|url=https://www.ibabs.com/en/general/embracing-tomorrow-together/|title=Embracing Tomorrow Together: iBabs' Full Integration with Euronext|website=iBabs|date=3 March 2021 |access-date=3 March 2024|archive-date=18 March 2024|archive-url=https://web.archive.org/web/20240318145241/https://www.ibabs.com/en/general/embracing-tomorrow-together/|url-status=live}}</ref> InsiderLog (compliance software){{cn|date=December 2023}}. | It has acquired a number of companies, including Company Webcast (webcasting){{cn|date=December 2023}}, iBabs (board portal),<ref name="ibabs.com">{{Cite web|url=https://www.ibabs.com/en/general/embracing-tomorrow-together/|title=Embracing Tomorrow Together: iBabs' Full Integration with Euronext|website=iBabs|date=3 March 2021 |access-date=3 March 2024|archive-date=18 March 2024|archive-url=https://web.archive.org/web/20240318145241/https://www.ibabs.com/en/general/embracing-tomorrow-together/|url-status=live}}</ref> InsiderLog (compliance software){{cn|date=December 2023}}. | ||
| Line 232: | Line 331: | ||
|2022||€1418,8||€861,6||€437,8 | |2022||€1418,8||€861,6||€437,8 | ||
|- | |- | ||
|2023 | |2023||€1474,7||€864,7||€555,3 | ||
|€1474,7 | |- | ||
|€864,7 | |2024||€1626,9||€1006,5||€585,6 | ||
|€555,3 | |||
|} | |} | ||
==See also== | ==See also== | ||
Latest revision as of 04:11, 16 December 2025
Template:Short description Template:Use dmy dates
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Euronext N.V. (short for European New Exchange Technology)[1] is a European bourse that provides trading and post-trade services for a range of financial instruments. It is registered in Amsterdam but its operational headquarters are located in Paris.[2] It operates major stock exchanges in eight countries: France (Euronext Paris), the Netherlands (Euronext Amsterdam), Belgium (Euronext Brussels), Ireland (Euronext Dublin), Portugal (Euronext Lisbon), Italy (Borsa Italiana), Greece (Athens Stock Exchange) and Norway (Euronext Oslo Børs). The present-day Euronext was spun off from the Intercontinental Exchange (ICE) in 2014,[3] shortly after ICE's acquisition of NYSE Euronext the year before.
Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, derivatives, commodities, foreign exchange as well as indices. As of March 2025, Euronext operated nearly 1,800 listed issuers with a market capitalization of approximately €6.3 trillion.[4]
Euronext is the largest center for debt and funds listings in the world, and provides technology and managed services to third parties. In addition to its main regulated market, it operates Euronext Growth and Euronext Access, providing access to listing for small and medium-sized enterprises. Euronext Paris accounts for more than 80% of Euronext’s total market cap. It also plays a key role in commodities trading, offering markets for power through Nord Pool and for fish through Fish Pool, alongside other agricultural commodities such as milling wheat and rapeseed.
Post-trade services include clearing performed by Euronext's multi-asset clearing house, Euronext Clearing, headquartered in Rome, as well as custody and settlement performed by Euronext's central securities depository (CSD), Euronext Securities.
Euronext traces its origins back to some of the world's oldest bourses, formed in the Low Countries' shifting trade centres, Bruges, Antwerp and Amsterdam in 1285, 1485 and 1602, respectively, as well as to the foundation of the Paris Bourse in 1724. In its present form, Euronext was established in September 2000 through the merger of the bourses in Amsterdam, Brussels and Paris. The goal was to create a single, integrated, and liquid market for securities trading across Europe. Since its inception, Euronext has continued to expand, and now operates stock exchanges in several European countries, including France, the Netherlands, Belgium, Portugal, Ireland, and Norway. Its creation was followed by the introduction of the single currency and harmonisation of financial markets.
In August 2023, the company formed EuroCTP as a joint venture with 13 other bourses, in an effort to provide a consolidated tape for the European Union, as part of the Capital Markets Union proposed by the European Commission.
History
Background: Exchange companies that merged into Euronext
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-
Beurs van Berlage in Amsterdam, now an events venue
-
Bourse Palace in Brussels, now an events venue
-
Palais Brongniart in Paris, now an events venue
-
Stock exchange building in Dublin
-
Stock exchange building in Oslo
2000–2007: Founding merger and early acquisitions
In 1998, the London Stock Exchange and Script error: No such module "Lang". announced their intention of forming an alliance to fend off competition from the United States, and take advantage from the European Union's (EU) single currency and harmonisation of financial markets.[5] In April 1999 the stock exchanges in Paris, Zurich, Madrid, Brussels, Amsterdam, and Milan signed a memorandum of understanding in Madrid, which formalised plans to include these bourses as well.
Ultimately, only three decided to proceed, and on 22 September 2000 Euronext was formed following a merger of the Amsterdam Stock Exchange,[6] Brussels Stock Exchange, and Paris Bourse.[7][8][9][10]
In 2001, Euronext became a listed company itself after completing its initial public offering.[11][12]
In December 2001, Euronext acquired the shares of the London International Financial Futures and Options Exchange (LIFFE), forming Euronext.LIFFE.[13]
In 2002, the group merged with the Portuguese stock exchange Bolsa de Valores de Lisboa e Porto (BVLP), renamed Euronext Lisbon.[9]
In 2003, Euronext cash products were integrated onto a single platform (NSC).[14]
In 2004, Euronext derivatives products were integrated onto LIFFE CONNECT.
In 2005, Euronext introduced Alternext as a market segment to help finance small and mid-class companies in the Eurozone.
2007–2014: Merger with the New York Stock Exchange and acquisition by Intercontinental Exchange
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Due to apparent moves by NASDAQ to acquire the London Stock Exchange[16] or Euronext itself,[17] NYSE Group, owner of the New York Stock Exchange (NYSE), offered €8 billion (US$10.2b) in cash and shares for Euronext on 22 May 2006, outbidding a rival offer for the European Stock exchange operator from Script error: No such module "Lang"., the German stock market.[18] Contrary to statements that it would not raise its bid, on 23 May 2006, Script error: No such module "Lang". unveiled a merger bid for Euronext, valuing the pan-European exchange at €8.6 billion (US$11b), €600 million over NYSE Group's initial bid.[19] Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response by SEC chief Christopher Cox (who was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007.[20]
Script error: No such module "Lang". dropped out of the bidding for Euronext on 15 November 2006, removing the last major hurdle for the NYSE Euronext transaction. A run-up of NYSE Group's stock price in late 2006 made the offering far more attractive to Euronext's shareholders.[21] On 19 December 2006, Euronext shareholders approved the transaction with 98.2% of the vote. Only 1.8% voted in favour of the Script error: No such module "Lang". offer. Jean-François Théodore, the chief executive officer of Euronext, stated that they expected the transaction to close within three or four months.[22] Some of the regulatory agencies with jurisdiction over the merger had already given approval. NYSE Group shareholders gave their approval on 20 December 2006.[23] The merger was completed on 4 April 2007, forming NYSE Euronext.
The new firm, NYSE Euronext, was headquartered in New York City, with European operations and its trading platform run out of Paris. Then-NYSE CEO John Thain, who was to head NYSE Euronext, intended to use the combination to form the world's first global stock market, with continuous trading of stocks and derivatives over a 21-hour time span. In addition, the two exchanges hoped to add Borsa Italiana (the Milan stock exchange) into the grouping.
In 2008 and 2009 Script error: No such module "Lang". made two unsuccessful attempts to merge with NYSE Euronext. Both attempts did not enter into advanced steps of merger.[24][25] In 2011, Script error: No such module "Lang". and NYSE Euronext confirmed that they were in advanced merger talks. Such a merger would create the largest exchange in history.[26] The deal was approved by shareholders of NYSE Euronext on 7 July 2011,[20] and Script error: No such module "Lang". on 15 July 2011[27] and won the antitrust approved by the US regulators on 22 December 2011.[28] On 1 February 2012, the deal was blocked by European Commission on the grounds that the new company would have resulted in a quasi-monopoly in the area of European financial derivatives traded globally on exchanges.[29][30] Script error: No such module "Lang". unsuccessfully appealed this decision.[31][32]
In 2012, Euronext announced the creation of Euronext London to offer listing facilities in the UK. As such, Euronext received in June 2014 Recognized Investment Exchange (RIE) status from Britain's Financial Conduct Authority.[33]
On 20 December 2012, the boards of directors of both Intercontinental Exchange (ICE) and the NYSE Euronext approved an $8 billion acquisition of NYSE Euronext. Under the terms shareholders of NYSE would receive either $33.12 in cash for each share or .2581 IntercontinentalExchange Inc. shares, or a combination of $11.27 in cash per share plus .1703 shares of stock.[34] The acquisition is subject to regulator approval, though since the operations of ICE and NYSE have little in common—ICE is largely devoted to trading commodities, as opposed to NYSE's business of trading stocks and securities—the deal is not expected to be blocked.[35] ICE said that after the deal closed it would sell the Euronext portion of the company, including stock exchanges in Amsterdam, Brussels, Lisbon and Paris.[36] The deal went through and Euronext is a sister division to NYSE and part of ICE. ICE CEO Jeffrey Sprecher would continue in that position at the combined company, while NYSE CEO Duncan Niederauer would serve as president.[35] The future of the New York Stock Exchange's historic trading floor under ICE has not been announced. ICE closed the high profile and historic trading floors of its other earlier acquisitions, the International Petroleum Exchange and the New York Board of Trade in New York.[37]
In May 2013, Euronext established Enternext as a subsidiary to help small and medium-size enterprises (SMEs) listed on Euronext outline and apply a strategy most suited to support their growth.[38][39]
The ICE's deal was approved by the shareholders of NYSE Euronext and Intercontinental Exchange on 3 June 2013.[40][41][42] The European Commission approved the acquisition on 24 June 2013[43] and on 15 August 2013 the US regulator, SEC, granted approval of the acquisition.[44][45][46] European regulators and ministries of Finance of the participating countries approved the deal and on 13 November 2013 the acquisition was completed.[47][48]
2014–present: Spin-off from ICE and subsequent development
- Dutch ABN AMRO (0.52%)
- French Deposits and Consignments Fund (8.04%)
- Italian CDP Equity (8.04%)
- Belgium-based Euroclear Group (5.63%)
- Italian Intesa Sanpaolo (1.54%)
- Belgian Federal Holding and Investment Company (5.31%)
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Part of ICE's deal to acquire NYSE Euronext was a spin-off for Euronext, which was considered a positive element for European stakeholders.[47] After a complex series of operations, this occurred on 20 June 2014, through an initial public offering (IPO).[50] The former Euronext.LIFFE was retained by ICE and renamed ICE Futures Europe. In order to stabilise Euronext, a consortium of eleven investors decided to invest in the company as "reference shareholders". These investors owned 33.36% of Euronext's capital and have a 3 years lockup period: Euroclear, BNP Paribas, BNP Paribas Fortis, Société Générale, Caisse des Dépôts, BPI France, ABN Amro, ASR, Banco Espírito Santo, Banco BPI and Belgian holding public company Template:Interlanguage link (SFPI/FPIM).[51] They have 3 board seats.
In June 2014, EnterNext launched two initiatives to boost SME equity research and support the technology sector. EnterNext partnered with Morningstar to increase equity research focusing on mid-size companies, especially in the telecommunications, media and technology (TMT) sector.
On 22 September 2014, Euronext announced a partnership with DEGIRO[52] regarding the distribution of retail services of Euronext. Upon publishing the third quarter results for 2014, the partnership was seen as a plan for Euronext to compete more effectively on the Dutch retail segment.[53]
In May 2017, Alternext was renamed to Euronext Growth.[54]
On 14 August 2017, Euronext announced the completion of its acquisition of FastMatch, a currency trading platform.[55]
On 27 March 2018, Euronext announced the completion of its acquisition of the Irish Stock Exchange,[56] rebranded as Euronext Dublin, to expand its reach into the debt and funds markets.
On 18 June 2019, Euronext announced the completion of its acquisition of the Oslo Stock Exchange.[57]
On 5 December 2019, Euronext announced that it would acquire 66% of the European power exchange Nord Pool.[58][59] The acquisition was completed on 15 January 2020.[60]
On 23 April 2020, Euronext announced that it would acquire ca. 70% of the Danish Central Securities Depository, VP Securities.[61] The acquisition was completed on 4 August 2020.[62]
On 18 September 2020, as part of regulatory remedies to see through its $27 billion purchase of data provider Refinitiv, the London Stock Exchange Group (LSEG) entered into exclusive talks to sell the Italian Bourse (formally 100% of London Stock Exchange Group Holdings Italia S.p.A.), situated in Milan, to Euronext.[63][64] As part of the deal, CDP Equity, 100% owned by Cassa Depositi e Prestiti, and Intesa Sanpaolo would become Euronext reference shareholders.[65]
In April 2021, Euronext completed the acquisition of the Borsa Italiana Group for €4.4 billion, enhancing its leadership in the European financial markets. This acquisition integrated the Milan Stock Exchange (Borsa Italiana) and its subsidiary MTS, a leader in fixed income markets, into Euronext. As of 2024, Euronext has further consolidated its market position through technological advancements, partnerships, and sustainability initiatives.
On 23 August 2023, Euronext formed EuroCTP as a joint venture with 13 other bourses, in an effort to provide a consolidated tape for the European Union, as part of the Capital Markets Union proposed by the European Commission.
In November 2024, Euronext announced a new three-year strategic plan titled "Innovate for Growth 2027", aimed at accelerating revenue growth through innovation and business diversification. The plan focuses on three main priorities:
- Growth in non-volume-related activities: expansion of post-trade services, data solutions, and technology services, which currently account for 60% of total revenues.
- Expansion in fixed income, currencies, and commodities (FICC) markets: enhancing trading and clearing capabilities, with a particular focus on the energy market through Nord Pool.
- Leadership in equity trading: strengthening Euronext's dominant position in equity markets and becoming the leading ETF market in Europe.
The strategic plan reaffirms Euronext's commitment to sustainability and ESG by setting a Net Zero target for 2027. It also states a target of an annual revenue and income growth of over 5%, with capital expenditure (CAPEX) estimated between 4% and 6% of total revenues. In addition, Euronext announced a share buyback program of up to €300 million, set to be completed within a maximum of 12 months starting in November 2024.[66]
On 1 July 2025, Euronext announced that it submitted a takeover offer in order to acquire Athens Stock Exchange.[67] Discussions focused on a potential all-share deal valued at approximately $470 million.[68] On 6 October 2025, Euronext launched a voluntary exchange offer for all ATHEX shares[69] and announced on 19 November 2025 that the offer was successful, with Euronext obtaining a controlling stake of 74,3% of ATHEX, thus resulting in the acquisition of Athens Stock Exchange by Euronext.[70]
Operations
Trading services
Equity
Template:Pie chart Script error: No such module "Location map/multi". Euronext operates its main regulated market, as well two types of multilateral trading facilities (MTFs) providing access to listing for small and medium-sized enterprises (SMEs), titled Euronext Growth and Euronext Access.
Euronext maintains a single order book at its proprietary market platform Optiq.[71]
| Topology | EU regulated | Multilateral trading facilities | ||
|---|---|---|---|---|
| Market | Euronext | Euronext Growth | Euronext Access | |
| Number of issuers | 776 | 229 | 180 | |
| Avg. valuation at initial public offering (€m) |
Size | 278.1 | 22.8 | 0.1 |
| Market cap. | 5,514 | 97 | 51 | |
| Availability at listing venues (operating market identifier code) | ||||
| Amsterdam | Template:Ya XAMS | Template:Na | Template:Na | |
| Athens | Template:Ya ? | Template:Na | Template:Na | |
| Brussels | Template:Ya XBRU | Template:Ya ALXB | Template:Ya MLXB | |
| Lisbon | Template:Ya XLIS | Template:Ya ALXL | Template:Ya ENXL | |
| Dublin | Template:Ya XMSM | Template:Ya XESM | Template:Na | |
| Milan | Template:Ya XMIL | Template:Ya EXGM | Template:Na | |
| Oslo | Template:Ya XOSL | Template:Ya MERK | Template:Na | |
| Paris | Template:Ya XPAR | Template:Ya ALXP | Template:Ya XMLI | |
Euronext manages various country (national), as well as pan-European regional and sector and strategy indices.[73]
| Name | Symbol | Trading Currency |
|---|---|---|
| European | ||
| Template:Flagicon Euronext 100 | N100 | EUR |
| National | ||
| Template:Flagicon AEX | AEX | EUR |
| Template:Flagicon GD | GD | EUR |
| Template:Flagicon BEL 20 | BEL20 | EUR |
| Template:Flagicon CAC 40 | PX1 | EUR |
| Template:Flagicon ISEQ 20 | ISEQ20 | EUR |
| Template:Flagicon FTSE MIB | MIB | EUR |
| Template:Flagicon PSI 20 | PSI20 | EUR |
| Template:Flagicon OBX 25 | OBX | NOK |
Foreign exchange
Euronext FX is a global foreign exchange trading platform, known as FastMatch until 2019.
Commodities
Euronext offers trading in a number of physical commodities such as Electric power (Nord Pool), salmon futures (Fish Pool), milling wheat, rapeseed, corn, durum wheat, and wood pellets.
Derivatives
Euronext operates derivatives markets.
Debt and funds listings
Euronext is the largest centre for debt and funds listings in the world.
Exchange-traded funds
Euronext's product range also includes exchange-traded funds.
Warrants and certificates
Bonds
Post-trade services
Central securities depository
Script error: No such module "Labelled list hatnote". Euronext provides custody and settlement services through its central securities depository (CSD), Euronext Securities, based on Euronext's ownership of previous national CSDs in Denmark, Italy, Norway and Portugal.
Clearing
Script error: No such module "Labelled list hatnote". Between 2016 and 2019 Euronext owned a 20% share in European Central Counterparty N.V. (EuroCCP).[74][75]
As of December 2019, Euronext owns an 11.1% share in LCH SA.
As part of its acquisition of the Italian Bourse in 2021, Euronext obtained the multi-asset clearing house Cassa di Compensazione e Garanzia S.p.A. (CC&G). CC&G was renamed Euronext Clearing.
Corporate services
Script error: No such module "Labelled list hatnote". Euronext Corporate Services (ECS) is a wholly owned subsidiary of Euronext. Founded in 2016, ECS provides solutions and services to more than 4,000 organisations, ranging from corporates to the public sector.
It has acquired a number of companies, including Company Webcast (webcasting)Script error: No such module "Unsubst"., iBabs (board portal),[76] InsiderLog (compliance software)Script error: No such module "Unsubst"..
Financial information
| Year[77] | Revenue | EBITDA | Net result |
|---|---|---|---|
| 2014 | €458,5 | €225,4 | €118,2 |
| 2015 | €518,5 | €283,8 | €172,7 |
| 2016 | €496,4 | €283,9 | €197,0 |
| 2017 | €532,3 | €297,8 | €241,3 |
| 2018 | €615,0 | €354,3 | €216,0 |
| 2019 | €679,1 | €399,4 | €222,0 |
| 2020 | €884,3 | €520,0 | €315,5 |
| 2021 | €1298,7 | €752,8 | €413,3 |
| 2022 | €1418,8 | €861,6 | €437,8 |
| 2023 | €1474,7 | €864,7 | €555,3 |
| 2024 | €1626,9 | €1006,5 | €585,6 |
See also
- Bourse of Antwerp, the world's first financial exchange
- Economy of the European Union
- Euroclear
- List of European stock exchanges
- List of stock exchanges
References
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External links
- Script error: No such module "Official website".Script error: No such module "Check for unknown parameters".
- Template:Sister-inline
Template:Euronext topics Template:World Federation of Exchanges Template:Stock exchanges top 20 Script error: No such module "Navbox". Template:Authority control
- Pages with script errors
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- Pages using infobox company with a duplicate image
- CAC Next 20
- 2007 mergers and acquisitions
- Companies listed on Euronext Paris
- Corporate spin-offs
- Euronext
- Financial services companies established in 2000
- 2014 initial public offerings